15 MARCH 2013The Economic Times
Aluminium up on increased demand, global cues
Edited by : AL CIRCLE
1 min read
Aluminium showed some strength on the local non-ferrous metal market on Wednesday with prices rising by Rs 2 per kg on increased demand from consuming industries amid a firming global trend.
Sentiment turned better after aluminium rose to a one-week high in overseas markets amid speculation that an improving US economy will drive prices higher, prompting Chinese users to place orders.
Meanwhile, aluminium climbed 0.4 per cent to $ 1,989 a tonne on the London Metal Exchange. Aluminium ingot, sheet cutting, aluminium wire scrap and aluminium utensils were also traded higher by Rs 2 each to Rs 142, Rs 143, Rs 146 and Rs 142 per kg respectively.
Sentiment turned better after aluminium rose to a one-week high in overseas markets amid speculation that an improving US economy will drive prices higher, prompting Chinese users to place orders.
Meanwhile, aluminium climbed 0.4 per cent to $ 1,989 a tonne on the London Metal Exchange. Aluminium ingot, sheet cutting, aluminium wire scrap and aluminium utensils were also traded higher by Rs 2 each to Rs 142, Rs 143, Rs 146 and Rs 142 per kg respectively.
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